NEC meeting approves Rs1675 bn development budg

London: Prime Minister Nawaz Sharif on Monday presided meeting of the National Economic Council and his cabinet through a video link from London where he is to undergo an open heart surgery on Tuesday.The NEC meeting considered the proposed Annual Development Plan (ADP) and the Public Sector Development Programme (PSDP).Sources said the meeting approved development budget of Rs 1675 billion for the fiscal year 2016-2017.The meeting was attended by federal ministers, chief ministers of the four federating units, governor and chief minister of Gilgit Baltistan and others.The prime minister applauded Planning Minister Ahsan Iqbal and his team for preparing a development plan in line with the economic growth of the country. He said the China Pakistan Economic Corridor has the potential to raise the GDP.Chief ministers of Sindh, Balochistan and Khyber Pakhtunkhwa, Khawaja Muhammad Asif, Ahsan Iqbal, Zafar Iqbal Jhagra interacted with the prime minister and conveyed their wishes for his speedy recovery from ailment. ‘Following the NEC meeting, the prime minister presided over the meeting of his cabinet and approved budget proposals.Later on, he told media outside the Pakistan High Commission that he was not staying in London on his own accord. He said Pakistan would have achieved GDP target if it had not missed on targets in agriculture, expressing hope that economic situation would improve due to government’s policies.Prime Minister Muhammad NawazSharif on Monday said low agricultural performance during the outgoing fiscal year 2015-16 restricted the economic growth at around 4.7 percent which could have touched 5.7 percent.Poor cotton crop and low commodity prices in the international market contributed to the low agricultural performance in Pakistan which caused one percent less growth of economy, he said.He, however, added that the country was on the path of economic growth and would recover further.The Prime Minister referred to the chairing of NEC andFederal Cabinet meetings through video link and said in theprevailing circumstances it was the best possible way that he adopted and it should be acceptable to all.When asked if the secrecy of budget proposals or related information can be ensured by using the video link method for such meetings, Nawaz Sharif said these were just proposals and not any secret.’Budget proposals often become headlines in newspapers one day before these are presented in the cabinet or parliament, he said in a lighter vein.The Prime minister, in response to a query about his health, said with the grace of Almighty Allah he was fine not facing any problem and his health would further improve after the operation on Tuesday.Nawaz Sharif thanked the nation as well as political leaders and others for their prayers and good wishes for him.””’